The deal, negotiated by NBC Universal TV Consumer Products Group, gives Columbia Records worldwide digital and physical rights to the first season of "Smash," with options to subsequent seasons.

The new series, schedule to air mid-season on Monday nights, will include original songs written by Marc Shaiman and Scott Wittman (Hairspray, Catch Me If You Can) as well as covers of hit songs.

"Music is at the heart of 'Smash,' and with our wonderfully creative broadcast partners, we will develop innovative strategies to present this music to a huge audience," Rob Stringer, chairman of Columbia/Epic Label Group, told Deadline.com.

McPhee, an "Idol" finalist, teams up with stage actors Megan Hilty (Wicked), Christian Borle (Legally Blonde), Brian d'Arcy James (Shrek) and "Will & Grace" star Debra Messing for the new musical series directed by Tony Award winner Michael Mayer (Spring Awakening, American Idiot) and set in New York City.

The series, according to NBC, "centers on a desire to create a Broadway musical based on the life of Marilyn Monroe—written by the successful songwriting duo of Tom (Borle) and Julia (Messing). Julia recently began the process of adopting a child with her husband of many years, but her focus is torn when she has the opportunity to write another Broadway hit. A rivalry soon forms for the lead role between a youthful, inexperienced Midwestern beauty (McPhee)—who is trying to find fame in the big city against all odds—and stage veteran (Hilty), who's determined to leave the chorus line and finally get her big break. A tenacious producer Eileen (Anjelica Huston) discovers the 'Marilyn' project and jumps on board with a brilliant director (Jack Davenport)—whose talent is matched by his cunning and egocentric amorality." For more information on "Smash," visit www.nbc.com/smash.